The Next Appropriation Challenge: State Debt

Smithee: Senator Eltife and Representatives Bonnen, Larson, and Pickett have all sounded the bell on the rising state debt.

The state debt is estimated to be $44 Billion, and here’s what legislators are saying it: 

• Larson: “…we need to be talking about reducing our debt when we are spending $3.6 billion (a year) on debt service…”
• Pickett: ““In cash, TxDOT is paying more on debt than on road construction and maintenance.” “So, we are actually paying more on the credit card than we’re paying cash.”
• Hughes: “If you look at us compared to other states, we are still better off than most. It is manageable but it is becoming a problem.”
• Price:  is confident that in addition to the proposed tax cuts (the Senate has already voted for a $4.6 billion package), the Legislature will approve debt reduction.
• Smithee: “I don’t think anything that has happened yet that is a crisis situation.”

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